Sub-Saharan Africa has a growing interest in cryptocurrencies, driven by factors such as inflation mitigation, currency instability, and the quest for greater financial freedom.
Despite being one of the smallest crypto economies globally, Sub-Saharan Africa accounted for 2.3% of global transaction volume between July 2022 and June 2023, with an estimated $117.1 billion in on-chain value.
Nigeria, in particular, stands out as a key player in the region’s crypto landscape. It ranks second overall on the Global Crypto Adoption Index and leads in raw transaction volume.
Other countries in the region, including Kenya, Ghana, and South Africa, also demonstrate significant grassroots adoption of cryptocurrencies.
